When to Sell, When to Buy?

[M.D. Holloway]

http://finance.yahoo.com/news/why-invest-60s-era-porsche-113003400.html

Will the bubble burst on the vintage 911s? How much higher will these go? No way of telling but as they climb in value it sure does give a guy hope...

[aigel]

It is time to sell, if major news outlets tell you to buy. So, that would make it now ...

It is a shame what happened to our hobby. The cars are now unobtainable to the average enthusiast due to speculation. At least if you are not super-enthusiastic!

G

[mistertate]

Will it burst with another global economic calamity?
Will it happen when the boomers start hitting the nursing homes?

[bivenator]

My 88 is nearing the 30 year mark. After I cross that milestone I will consider selling it. It is not nearly as much fun to drive now that the value has nearly tripled since I purchased 10 years ago.

[911SauCy]

My '78 isn't nearly as fun to drive since it's parked with a popped engine, leaving me wondering how I'm going to afford the ridiculously expensive rebuild costs as they've also sharply increased...

Good news is, it's worth as much now with a lame engine as it was 5 years ago in perfect order.

[speeder]

If you have to ask when it's time to sell/buy, it's probably best to stay on the sidelines. That is not specific to old Porsches.

[GH85Carrera]

Easiest question ever.

Buy low sell high.

Anything else you wanna know?

[VincentVega]

It is a shame what happened to our hobby. The cars are now unobtainable to the average enthusiast due to speculation

Too funny, I guess we are the old guys talking about way back when now. I sold my SC a few years ago, at this rate I doubt I'll ever own one again.

[Jim Richards]

Do you still have the red car?

[Rot 911]

Originally Posted by VincentVega

Too funny, I guess we are the old guys talking about way back when now. I sold my SC a few years ago, at this rate I doubt I'll ever own one again.

Same here. I can afford one, but at the prices they are asking, I'm not willing to pay. It really is a different group of owners now. But that's life. Always changing.

[tabs]

U folks act as if the future is not knowable.

What has happened with pre 1972 Ferraris? They became very collectable, much like a piece of art. There is a global demand for these cars, they are iconic of a now bygone era. Vintage Porsches are very similar in cache. U might now say that Porsches have caught on (been recognized) and it will NEVER be the same again.

The immediate question vs the long term question is, has the vintage Porsche market become speculative or is it merely price meeting a new demand curve? One thinks that at the moment the market is seeking a new equilibrium at a higher price basis. Porsche is recognized as a high quality product in an increasingly disposable product world. Therefore it will be sought after and the more rare the higher the demand. Vintage Porsches are being seen as a hard asset investment much like art, spoons, coins, stamps, and other assorted antiques rather than just another used car.

Do U folks realize vintage shoes are becoming collectable and there is a global market for them?

Of course Americans are the last to know....

[aigel]

When I sold a well broken in 80s cab about 2 years ago, 80% of all interest I got was from people buying to resell. And most of them were dicks. There were very few enthusiasts wanting to buy for personal use and long term ownership. I think it largely speculation now and the car is going from one speculator to another ...

Yes, i sound like an old curmudgeon. But it really isn't a big deal. My SC never was a collector car - it may be worth 20k now instead of 10k. My 993 is largely unaffected by the crazyness and I still enjoy it like I did the day I bought it. It is nice to know that I would break even if I sold, even after some serious work and upgrades on the transmission.

G

[VincentVega]

Do you still have the red car?

Good stuff Jim! That must have been before the bigger torsion bars. Yeah, its still in pieces in the garage. I need to get back out there.

[onewhippedpuppy]

Just go price a similar vintage Ferrari or Lamborghini. Air cooled 911s still look pretty cheap. If you want an iconic classic car (yes they are classics now) from that era, the 911 is still a pretty good deal. I doubt you'll ever see a $100k SC, but I don't see them ever getting any cheaper.

[uncle_scott]

If you are willing to accept one that is a little rough around the edges, has high miles, or is otherwise a driver's car there are still deals out there. I consider the price I paid to be fair for the enjoyment that this car gives me. If you are more concerned about the value of the car than you are about the smile that owning/driving the car gives you, then it is time to sell in my opinion.

For me, I don't care if this car loses value from what I paid. Any amount of depreciation will be small compared to the depreciation I would have expected from any newer sports car that I could have purchased with the same amount of money.

[afterburn 549]

and someone of course will ask, How much ?

[dan88911]

I still enjoy my 88CE. However everything is for sale at the right price. Problem is I am not sure were to invest or spend the big win fall should some one offer me some crazy money for the car.

[Nickshu]

The whole thing will crash as boomers reach the end of life. The generations after are much less interested in automobiles.

[afterburn 549]

Originally Posted by Nickshu

The whole thing will crash as boomers reach the end of life. The generations after are much less interested in automobiles.

Yes, tis a funny thing.We all could NOT wait to get out of the parents house and be on our own.
Wolf Man jack and a roller skate drive in could not make it today.
There is no such thing as "cruse night" any more....
And you are right, most do not care about a car or moving out.

[dan88911]

That's a good point. Next generation will want electric,self driven cars.